"As to receding, it is neither to be discussed nor thought of. I refer to it but to denounce it--a denunciation which will find a response in every American bosom. Nothing is ever gained by national pusillanimity. The country which seeks to purchase temporary security by yielding to unjust pretensions, buys present ease at the expense of permanent honour and safety. It sows the wind to reap the whirlwind. I have said elsewhere what I repeat here, that it is better to fight for the first inch of national territory than for the last. It is better to defend the doorsill than the hearth-stone--the porch than the altar. _National character is a richer treasure than gold or silver_, and exercises a moral influence in the hour of danger, which, if not power itself, is it surest ally. _Thus far ours is untarnished!_" &c. This statement of the relative value of "national character" as compared with the precious metals, will be very edifying to the creditors of Michigan. Mr Serier, _Democratic_ senator from Arkansas, another _insolvent_ western state, is a still richer representative of the majesty of the American senate. This state is the headquarters of the bowie-knife, revolver, and Judge Lynch _regime_, and Mr S.'s education in these particulars does not appear to have been neglected. "It has been her (Great Britain's) bullying that has secured for her the respect of all Europe. _She is a court-house bully; and in her bullying, in my opinion, lies all her strength._ Now, she must be forced to recede; and _like any of our western bullies, who, when once conquered, can be kicked by every body, from one end of the country to the other_, England will, in case she do not recede from her position on this question, receive once more that salutary lesson which we have on more than one occasion already taught her." * * "I should like very much indeed to hear any one _get on the stump_, in my part of the country, sir, and undertake to tell us that the President had established our claims to Oregon, and made it as plain as the avenue leading to the White House; but inasmuch as there is great danger that Great Britain may capture our ships, and burn our cities and towns, it is very improper for us to give notice that we will insist upon our claim. _I need hardly say that such a one, if he could be found, would be summarily treated as a traitor to his country._" * * * * No doubt of it. Furthermore, Mr Serier cannot think of arbitration, because--